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Senior Execs Without a Good PlanSenior Execs Without a Good Plan

America's executives may have made it to the top by being hyper-efficient, but when it comes to their finances, there's at least one item that stays on the list: estate planning. A recent survey of senior executives with estates of $5 million or more found most have plans last updated more than five years ago even though their chief financial concern is making sure heirs are taken care of. SURVEY

3 Min Read
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Hannah Shaw Grove and Russ Alan Prince

America's executives may have made it to the top by being hyper-efficient, but when it comes to their finances, there's at least one item that stays on the “to-do” list: estate planning. A recent survey of senior executives with estates of $5 million or more found most have plans last updated more than five years ago — even though their chief financial concern is making sure heirs are taken care of.

SURVEY

The study, conducted by phone in the third quarter of 2003, questioned 286 executives who held the position of vice president or higher at a publicly owned Fortune 1,000 company. All had been at their companies at least 10 years and were at least 45 years old. The majority — 81.0 percent — were men. ...

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About the Authors

Hannah Shaw Grove

Senior Executive, Foundation Source

Hannah Shaw Grove is a senior executive at Foundation Source, the nation’s largest provider of support services to private foundations. The firm works in partnership with financial and legal advisors as well as directly with individuals and families.

Russ Alan Prince

President

http://www.russalanprince.com/

Russ Alan Prince is one of the most published authors on the topic of private wealth. He has completed work on 40 books covering a range of subjects from investor psychology to luxury spending, from understanding the middle-class millionaire to the political philosophies of the super-rich. His body of work is regularly consulted by affluent individuals and families, elite advisors, family offices, private bankers, wealth managers, academics and the press. Collectively, the cache of research-based insights within Prince’s publications is the most complete empirical analyses in the field and the largest, most comprehensive database on the topic.